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687-705 High Street, PRESTON, VIC 3072

Development Potential
DETAILS
AN INTERGENERATIONAL INVESTMENT WITH UNRIVALLED FUTURE DEVELOPMENT SCOPE
  • 1.48HA* GATEWAY LANDHOLDING
  • TRIPLE NET LEASE TO ASX LISTED TENANT
  • $1,082,345 ANNUAL NET INCOME

CBRE Freestanding Retail Investments & CBRE Victorian Development Sites is pleased to present for your consideration the ‘Preston Toyota Site’, a land-rich intergenerational investment with unrivalled future development scope in Melbourne’s highly sought after inner north.

The property is best described as follows:

+Strategic 1.48ha* premium gateway corner site

+Triple street frontage to High Street (103m*), Regent Street (99m*) and William Street (25m*)

+Established quality improvements comprising 4,700sqm* motor vehicle showrooms, spare parts showroom/store, service centre, carwash and large hardstand area

+Leased to ASX listed Eagers Automotive (ASX:APE) with a market cap of over $4.2Billion.

+Strong net income of $1,082,345 p.a.* plus 3.5% annual increases

+Priority Development Zone (PDZ) promoting high density development (STCA).

+Positioned within Preston’s activity centre, only 250m* to Regent Train Station, 500m* to Woolworths & 600m* to Preston Market.

For Sale Via International Expressions of Interest Closing Thursday 23rd September 2021 at 2:00PM (AEST)

For further information please contact the exclusive sales and marketing agents at CBRE:

Nathan Mufale

+61 421 224 354

[email protected]

David Minty 

+61 422 564 199

[email protected]

Jing Jun (JJ) Heng 王敬君

+61 411 059 116

[email protected]

Remember to mention you found this property on DevelopmentReady.com.au

DEVELOPMENT SITE SUMMARY
EOI:
TITLE:
Closing Thursday 23rd September 2021 at 2:00PM (AEST)
Property Area
AREA:
14815 m² (*approx)
Property Type
TYPE:
Commercial, Residential, Apartment Sites, Townhouse Sites, Other, Apartment Sites, Townhouse Sites, Other
Development Potential
DEVELOPMENT APPROVAL:
Priority Development Zone (PDZ) promoting high density development (STCA)

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687-705 High Street, PRESTON, VIC 3072

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